DOW 16,197.35 -175.99 points or -1.07%
S&P 1,828.46 -16.40 points or -0.89%
NASDAQ 4,218.87 -24.13 points or -0.57%
Wall Street sold off hard today as a report stated that the manufacturing slowdown in China at the end of 2013, had continued into January of 2014. In addition, US-traded Chinese stocks were down sharply following a United States Securities and Exchange Commission Judge ruling that the worlds top accounting firms Chinese divisions should be suspended from auditing US-traded Chinese stocks.
The DOW was down for a third consecutive day losing -175.99 points or down -1.07 percent to close down 16,197.35 for the day. The S&P 500 index lost -16.40 points or down -0.89 percent to close down at 1,828.46 for the day. The NASDAQ index slipped -24.13 points or down -0.57 percent to close down at 4,218.87 for the day.
All released and proposed to be released economic reports for the week are listed below.
7:00 am MBA Mortgage Index report for January 18 was up 4.7 percent. There is not a forecasted figure for this report. The prior reported number was up 11.9 percent.
8:30 am Continuing Claims report for January 11 was not released today
8:30 am Initial Claims report for January 18 was 326,000. The Street was looking for 327,000. the revised prior reported number was 326,000.
8:30 am Continuing Claims report for January 11 was 3056K. Wall Street was looking for 2900K. The revised prior reported number was 3030K.
9:00 am FHFA Housing Price Index report for November was 0.1 percent. There was not an expected number for this report. The prior reported figure was 0.5 percent.
10:00 am Existing Home Sales report for December was 4.87M. Wall Street was expecting 4.90M. The revised prior reported figure was 4.90M.
10:00 am Leading Indicators report for December was 0.1 percent. Wall Street was looking for 0.2 percent. The revised prior reported number was 0.8 percent.
10:30 am Natural Gas Inventories report for January 18 was -107bcf. There is not a Street expected number for this report. The prior reported number was -287bcf.
11:00 am Crude Inventories report for January 18 was 0.990M. The prior reported figure was -7.658M.